FTXN vs IEO: Grades, Fees and Holdings Compared

First Trust Nasdaq Oil & Gas ETF

FTXNBNasdaq

iShares U.S. Oil & Gas Exploration & Production ETF

IEOBCboe

Overlap

56.9%by weight

Expense ratio

IEO −0.23pt a year

FTXN0.60%IEO0.37%

Avg volume · 30D

FTXN 4.7×the volume

FTXN556KIEO119K

10Y return · a year

IEO +2.3pt

FTXN+10.5%IEO+12.8%

FTXN vs IEO Performance

Oct 29, 2021 – Oct 30, 2026

+136.1%FTXN+173.1%IEO

Expense ratio: FTXN 0.60%; IEO 0.37%, better
Fund size: FTXN $1.23B; IEO $937M
1Y total return: FTXN +61.9%; IEO +72.6%, better
Yield (12M): FTXN 1.65%, better; IEO 1.45%
Holdings: FTXN 50; IEO 49
Avg volume (30D): FTXN 556K sh, better; IEO 119K sh
NAV per share: FTXN $43.46; IEO $151.11
52W range

ETF.net Grade

Pillar letters and Scores for FTXN, IEO, with each pillar’s weight
Pillar	FTXN	IEO
Cost30% weight	D34	B60Higher
Mission25% weight	A73Higher	B68
Risk15% weight	B58Higher	C52
Tradability15% weight	A81Higher	B65
Holdings10% weight	A76Higher	D36
Durability5% weight	A72Higher	B67

Rank among Oil & Gas Producers funds

How we build Categories ›

Same Category. FTXN and IEO are both graded against the same 10 Oil & Gas Producers funds, so their Grades compare head to head.

Oil & Gas Producers⁠

Category · 10 funds

See all 10 ›

FTXN ranks 2nd and IEO 4th of 10 funds in the Oil & Gas Producers Category.

Rank 1AXOPState Street SPDR S&P Oil & Gas Exploration & Production ETFScore 73
Rank 2BFTXNFirst Trust Nasdaq Oil & Gas ETFScore 60
Rank 2BOIHVanEck Oil Services ETFScore 60
Rank 4BIEOiShares U.S. Oil & Gas Exploration & Production ETFScore 59
Rank 5BPBOGPortfolio Building Block Integrated Oil and Gas and Exploration and Production Index ETFScore 58

Our read on each fund

ETF.net Research

FTXNBFirst Trust Nasdaq Oil & Gas ETF

IEOBiShares U.S. Oil & Gas Exploration & Production ETF

In short

FTXN Most oil and gas ETFs just hand you the biggest drillers by size. FTXN screens the US oil and gas patch on factor signals instead, holding about 40 names weighted by those scores. A rules-based tilt on a famously cyclical sector.

IEO One of the original ways to own U.S. upstream energy: since 2006 this iShares fund has tracked a single index of about 50 American oil and gas exploration and production stocks. Pure upstream, pure U.S.

Stated mandate

FTXN The Fund seeks to track the performance of the Nasdaq US Smart Oil & Gas Index before fees and expenses through an indexing strategy.

IEO The Fund seeks to track an index of U.S. equities in the oil and gas exploration and production sector. It uses a sampling-based indexing approach and normally invests at least 80% of net assets in components of the Underlying Index.

Why people hold it

FTXN The "Smart" in the index name is literal: holdings are selected and sized by factor ranking, not market cap alone, so the largest producer doesn't automatically get the largest slot.ftportfolios.com
About 40 holdings, all oil and gas. No utilities, no renewables filler, no diluting the theme you actually came for.ftportfolios.com
Running since 2016 and it sticks tightly to the Nasdaq index it names in its prospectus. What the documents promise is what the portfolio delivers.
Trades actively for a niche sector fund, so getting in and out is rarely the hard part.

IEO Tight mandate: at least 80% of net assets sit in components of the Dow Jones U.S. Select Oil Exploration & Production Index. Upstream U.S. energy, not a mixed energy basket.ishares.com
About 50 holdings: concentrated enough to move with drilling economics, broad enough that one blown-up producer is not the whole story.
Trading since 2006, so its index record spans multiple oil cycles, with the iShares platform running the plumbing.
Producer dividends are passed along on a quarterly schedule.

Worth knowing

FTXN 0.60% a year is the price of the factor machinery. Plain cap-weighted rivals like XOP (0.35%) and IEO (0.37%) charge roughly half that for the same corner of the market.
Concentrated, single-sector equity: the ride tends to follow the price of the barrel, with no defensive ballast when energy turns.
A mid-sized fund, not one of the category's household-name giants, and it pays distributions quarterly rather than monthly.

IEO The 0.37% fee sits right at the middle of the E&P shelf: XOP and OIH charge 0.35%, PBOG 0.13%.
One country, one sector, about 50 stocks. Crude and gas price swings pass straight through to the portfolio.
Moderately traded rather than the busiest ticker in the category, which can matter on larger orders.

Full FTXN profile⁠

Full IEO profile⁠

FTXN vs IEO Holdings

How FTXN and IEO differ

Overlap by weight

56.9%

Shared holdings make up 94.8% of IEO and 59.8% of FTXN.

Level by level

Sector4 Sectors0.0%
Holdings29 in both56.9%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in FTXN and IEO, widest gap first
Sector	More in FTXNMore in IEO	FTXN	IEO
Energy	FTXN +99.5 points	99.5%	0.0%
Oil & Gas Exploration & Production	IEO +65.7 points	0.0%	65.7%
Oil & Gas Refining & Marketing & Transportation	IEO +34.3 points	0.0%	34.3%
Materials	FTXN +0.5 points	0.5%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in FTXN and IEO, widest gap first
Country	More in FTXNMore in IEO	FTXN	IEO
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

FTXN56.3%
IEO70.5%

Securities held

FTXN49
IEO47

Asset class

FTXN: Equity
IEO: Equity

Holdings

Only in FTXN20
In both29
Only in IEO18

Only in FTXN

20 securities, 40.1% of FTXN by weight

ExxonMobil Holdings Corp.8.19%
Chevron Corporation8.04%
Occidental Petroleum Corporation3.75%
Kinder Morgan, Inc.2.75%
Cheniere Energy, Inc.2.59%
ONEOK, Inc.2.37%
The Williams Companies, Inc.2.26%
SLB Ltd.2.13%
Targa Resources Corp.1.72%
Baker Hughes Company (Class A)1.41%
Halliburton Company1.02%
Select Water Solutions, Inc. (Class A)0.47%
Archrock, Inc.0.46%
Helmerich & Payne, Inc.0.45%
Antero Midstream Corp.0.44%
Tidewater Inc.0.43%
Cactus, Inc. (Class A)0.43%
Weatherford International Plc0.43%
NOV Inc.0.42%
Oceaneering International, Inc.0.36%

Only in IEO

18 securities, 5.1% of IEO by weight

Viper Energy Inc Class A1.29%
Murphy Oil0.82%
California Resources0.63%
Northern Oil and Gas0.42%
Talos Energy0.32%
World Kinect0.26%
Kosmos Energy0.24%
Comstock Resources0.16%
Rex American Resources0.15%
Diversified Energy Company0.14%
Green Plains0.14%
Riley Exploration Permian Inc0.13%
Bkv0.11%
Vaalco Energy Inc0.09%
Vitesse Energy Inc0.09%
Sable Offshore Class A0.06%
Sandridge Energy Inc0.06%
Clean Energy Fuels0.04%

Weight gaps

All 29 Holdings in both funds, largest gap first.

Holding weights in FTXN and IEO, widest gap first
Holding	More in FTXNMore in IEO	FTXN	IEO
ConocoPhillipsCOP	IEO +10.16 points	8.18%	18.34%
Valero Energy CorporationVLO	IEO +7.48 points	3.92%	11.40%
Marathon Petroleum CorporationMPC	IEO +4.84 points	7.54%	12.38%
Texas Pacific Land CorporationTPL	IEO +2.29 points	0.41%	2.70%
EQT CorporationEQT	IEO +1.87 points	2.40%	4.27%
Venture Global, Inc. (Class A)VG	FTXN +1.49 points	2.58%	1.09%
Permian Resources Corp.PR	IEO +1.36 points	1.67%	3.03%
HF Sinclair Corp.DINO	IEO +1.29 points	1.18%	2.47%
Range Resources CorporationRRC	IEO +1.11 points	0.66%	1.77%
Devon Energy CorporationDVN	IEO +1.02 points	3.46%	4.48%
Antero Resources CorporationAR	IEO +1.00 points	0.80%	1.80%
Expand Energy CorporationEXE	IEO +0.94 points	1.97%	2.91%
Ovintiv Inc.OVV	IEO +0.94 points	1.84%	2.78%
EOG Resources, Inc.EOG	FTXN +0.82 points	5.56%	4.74%
Diamondback Energy, Inc.FANG	IEO +0.68 points	3.73%	4.41%
Phillips 66PSX	IEO +0.68 points	3.89%	4.57%
APA CorporationAPA	IEO +0.46 points	2.11%	2.57%
Magnolia Oil & Gas Corporation (Class A)MGY	IEO +0.42 points	0.45%	0.87%
CVR Energy, Inc.CVI	FTXN +0.40 points	0.64%	0.24%
PBF Energy Inc.PBF	IEO +0.39 points	0.68%	1.07%
CNX Resources CorporationCNX	IEO +0.30 points	0.47%	0.77%
SM Energy CompanySM	IEO +0.23 points	1.10%	1.33%
Delek US Holdings, Inc.DK	IEO +0.17 points	0.46%	0.63%
Chord Energy CorporationCHRD	IEO +0.15 points	1.04%	1.19%
Par Pacific Holdings, Inc.PARR	IEO +0.09 points	0.44%	0.53%
Gulfport Energy CorporationGPOR	FTXN +0.09 points	0.43%	0.34%
Crescent Energy CompanyCRGY	FTXN +0.06 points	0.71%	0.65%
Matador Resources CompanyMTDR	FTXN +0.04 points	1.03%	0.99%
Calumet, Inc.CLMT	IEO +0.02 points	0.46%	0.48%

All 49 FTXN holdings⁠All 47 IEO holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FTXN vs IEO Cost

Overpaying FTXN vs IEO

$4,304

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FTXN 0.60%
$11,817
IEO 0.37%
$7,513

Amount$10,000

Years30 years

Cost over time

FTXN 0.60%
IEO 0.37%
Overpaying

Year by year

Year	FTXN	IEO	Overpaying
10	$1,076	$670	$406
20	$4,116	$2,590	$1,526
30	$11,817	$7,513	$4,304

Expense ratio

0.60%FTXN
0.37%IEO, cheaper

IEO0.37%FTXN0.60%

0.13%1.72%

Middle half of Oil & Gas Producers funds
Median 0.39%

IEO 4th cheapest of 10 funds

FTXN 7th cheapest of 10 funds

FTXN vs IEO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FTXN 1.65%, better; IEO 1.45%
Payout (12M): FTXN $0.72; IEO $2.19
Last payment: FTXN $0.24; IEO $0.49
Ex-dividend: FTXN Sep 24, 2026; IEO Sep 15, 2026
Paid on: FTXN Sep 30, 2026; IEO Sep 18, 2026
Frequency: FTXN Quarterly; IEO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FTXNQuarterly · 39 paymentsAll FTXN payments⁠

IEOQuarterly · 39 paymentsAll IEO payments⁠

FTXN vs IEO Risk

Fall from peak · 5 years

FTXN
IEO

Risk facts

VolatilityStd dev, 3 years: FTXN 22.9%, betterIEO 23.9%
Return per unit of riskSharpe ratio, 3 years: FTXN 0.61IEO 0.65, better
Worst fallMax drawdown, 5 years: FTXN −30.0%, betterIEO −31.4%
Market sensitivityBeta, 5 years: FTXN −0.05IEO −0.11; Market = 1

FTXN and IEO in the news

All news⁠

Top Movers
Meta adds $192 billion after Muse tops the charts
Sep 21, 2026IEO
Top Movers
Tanker ETF gains 8.4% as crude falls
Sep 16, 2026FTXN

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FTXN vs IEO

In short

Stated mandate

Why people hold it

Worth knowing

How FTXN and IEO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FTXN

Only in IEO

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Meta adds $192 billion after Muse tops the charts

Tanker ETF gains 8.4% as crude falls

How FTXN and IEO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FTXN

Only in IEO

Weight gaps